Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,445 shares of the financial services provider’s stock after selling 5,004 shares during the period. Corebridge Financial Inc.’s holdings in Marsh & McLennan Companies were worth $30,257,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 44,739,515 shares of the financial services provider’s stock valued at $9,503,120,000 after purchasing an additional 356,618 shares during the last quarter. FMR LLC increased its stake in shares of Marsh & McLennan Companies by 2.5% in the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock worth $4,784,190,000 after acquiring an additional 518,185 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Marsh & McLennan Companies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,905,431 shares of the financial services provider’s stock worth $2,648,304,000 after acquiring an additional 251,361 shares during the period. Amundi grew its holdings in shares of Marsh & McLennan Companies by 81.1% in the fourth quarter. Amundi now owns 4,072,976 shares of the financial services provider’s stock valued at $860,824,000 after purchasing an additional 1,823,807 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Marsh & McLennan Companies by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,999,771 shares of the financial services provider’s stock worth $892,309,000 after purchasing an additional 184,239 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MMC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Royal Bank of Canada upgraded Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $242.00 to $250.00 in a research report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Evercore ISI reiterated an “outperform” rating and set a $242.00 price target on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Finally, Raymond James restated an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $230.44.

Insider Activity

In other news, VP Stacy Mills sold 1,317 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $686,817.31. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas Mark Studer sold 49,390 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the completion of the transaction, the chief executive officer now owns 28,329 shares in the company, valued at $6,520,202.64. This represents a 63.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,828 shares of company stock worth $13,350,279. 0.30% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $232.05 on Monday. The company has a market cap of $113.97 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95. The company has a fifty day simple moving average of $227.10 and a two-hundred day simple moving average of $223.74. Marsh & McLennan Companies, Inc. has a 52 week low of $196.17 and a 52 week high of $241.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be given a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is presently 39.80%.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.